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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Kuwait wealth fund said to have decided against investing in GM

Posted on 22 November 2010

From Bloomberg: Kuwait Investment Authority, the country’s sovereign wealth fund, decided against buying General Motors Co. shares after the sale price was raised, according to a person familiar with the matter.
GM’s owners, including the U.S. Treasury, sold shares at $33 each in an initial public offering on Nov. 17. The automaker had filed with the Securities and Exchange Commission on Nov. 3 to offer the shares for $26 to $29 each. The company raised more than $20 billion in the IPO, which reduced the U.S. government to a minority shareholder……………………………………….Full Article: Source


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